Savannah morning news. [volume] (Savannah) 1868-1887, 1887-03-11
GOIrLD IN THE BIG DEAL.
~ EFFORT TO BUY WIRES THE
'A-' CRADLE OF THE SCHEME.

An IntfmaUlOn from ""io'o
would Sell Out Control OF the Thtire
o,ant II Good Terms Were oHereu
cavethe Wizard Tip-'No Oouot 'ha'
,be sale is Being Negotiated
Nrw YORK. March 10.-.The Executive
cou,,nittaa of the Richmond Terminal
Comnauy met this afternoon. They con-
oidered two propositions relating to the
r,,robase Of the Baltimore and Ohio stock
rnder the option given by Robert Garrett
N Alfred Sully. One OF the directors
,aid tnat the proposition most likely to Dc
odonted WAS that The syndicate should
,ote the stock In their interest and hold
II until the Richmond Terminals full
hoard Of directors approve of the action
of the Executive Committee.
ON COLLATERAL TRUST.
II will then be placed on collateral
,rust and the Richmond Terminal Com
nonvwiIl either consolidate the Baltimore
and Ohio with their system or operate IL
separately as a proprietary Ioaa. Inc
Baltimore and Ohio track from BaItmore
And Washington to PhiiadeIphla Will De
ed as a trunk line for the business of
its own Western lines and other ROADS In
the Richmond Terminal system.
THE PENNSYLVANIA ROAD NOT IN
VoLVED.
The Pennsylvania road has no interest
in the deal. nor has the Western Union
TeIegrabh Company. 1t is simply a
Richmond Terminal arrangement, and
has no similarity TO the sale or the Van
derbilt holdings of New York Central to
London syndicate. The price and mode
If payment are about the same as already
pubusned The purchase of the minority
stock is not being considered.
THE COMMITTEE RETICENT.
The meeting OF the Executive Commit.
tee adjourned TO meet at the call of Mr..
Sully. but all information is refused as TO
their action. The members intimate that
they are pledged to secrecy, and Mr..
Bryce is quoted as saying tbat the pre-
mature publication OF the proposed plan
NAV interfere with the accumulation of a
majority of toe stock, which Mr.. Garrett
agreed to deliver.
He also stated that he thought Mr.. Gar
rett only wanted to make nominal saie
tor the purpose of anal lgamating the Bal
timOre and Ohio system with the Rich
mOnd Terminal. This Mr.. Bryce says he
is willing as a director of the Terminal
Company to accade to.
Alter the adjournment of the commit g
several Of the directors met, and AL the
circumstances SO far confirmed tne direc-
tors statement made before the meeting
was called to order.
GOULD's FINGER IN THE DEAL.
gentleman who claims to have seen
the original contract Tor the sale of the
Baltimore and Ohio railroad is authority
Tor the following statement: The plan for
the consolidation OF the various railway
interests grew out of the efforts of JAY
Gould to induce Robert Garrett to pool
toe business OF the Baltimore and Ohio
Telegraph Company with that OF the
Western Union telegraph Company. Mr..
Garrett absolutely refused to become a
party to such an arrange
ment, and declared that be
would always keep his business interests
under his own control, that the telegraph
aud railroad interests were identical, and
taat they shGuld continue to be SO as long
as ne controlled them, but at the same
ume ne lntlmated that he was inclined 10
Hee himself OF business cares by an alb.
soIute sale OF the controlling interest in
Inc baltimore and OHIO railroad, which
Mouo carry with it control of the tele.
graph ana express companies.
THE SYNDICATE.
with this hint as basis of negotiations
MI could returned TO New York and
iothed syndicate composed as follows:
SToNihs S bTyce, Alfred Sully, Austin Cor
nih' JOnn u. Moore, Gen. Samuel Thomas
IL. e. Fahnestock, Winelow. Larner a
70 ana j. b. Pace. A contract was then
Trained III wnlch Mr.. Garrett agreed 10
Aansier 10 the syndicate controlling in
teiest i III the Baltimore aud Ohio railroad
%h mltnlh tnlrty days for SIC, 1000, 600, forfeit
peIng deposited by Mr. Garrett, The CON
sIact was shown to Mr.. Gould on Satur.
Hay: IL ls understood that the telegraph
BUSINESS Is to 90 to the Western Union
Gn paHy ana the express business to the
n""his Express Company.
FAILURE REPORTED.
,.T,e nus 1rIoune OF tomorrow will saw.
me negotiations for the transfer of the
voniroi So5 oil the Baltimore and Ohio rail.
boaa oau 70 New York syndicate have not
yoon carried 10 a SUCCESSFUL issue. 1t is
preeiSo Seo l1aI Tue option obtained from
nirod ,a uarrett by Alfred Sully ex-
pneu yesterday, and that Mr.. SulIv was
GGnaole to raise the money 10 meet rne
,he uls1 payment. While the exact terms nf
~ contract are not known.
&C. ooo nss been established that
ytCC,oyV,OOV OF the SlG.00O.0 reouired for
to tnG purchase of $4,000 shares at 500 was
~ oe PAID in cash, Tne stock. however
me-. l" pe placed in trust until fhe nov,
wbioL Vi lhe remaining $4,000. coo. on
rorl,I a1I years time was given. had bean
noupieted. 1t appears that OF the cash
E@b p b nieht an installment OF 81, ,OOO. 900 was
q" Os paid yesterday. 'N''''VO W 40
,,,, AN EXTENSION ASKED.
In Ma ia.e sun was not sentto Baltimore. but
iensiese "Ce vi the money a request Tor an ey.
is nn. ol tue privilege was for warded II
sago'..iHoWh AHoWh that any repIy 10 the mos
eSoes was received. The most nIousibia
tion iuse ,,'. lot the failure to exercise the an.
svro,aa ""s statement that the purobsstng
yea,inn..e desired longer time for an in,
morae o.'s "Vlpn u OF the condition of the Ralti.
Iisbili,inu anu ONO Company. The assets and
statod OF the COMPANY were
tho bVeu In round 6plras vyra,,
ebia;n privilege on the stock wos
toosSalned, and many nersona S mSs
nnJ ,J expressed willingness to ,oir IN tho
fectlon ~ were reluctant, on calm re-
an eynert " complete the bargain without
the coponoAai examination Of the affairs of
the Ewappsuy. An adjourned meeting Of
mond and i've i've committee OF the Rich.
was wI hoIl Snu w eat Point Terminal Comnanv
Mr. snii, iu Yesterday. The option beid by
again m PRESIDENT OF the company was
sdon, unaer discussion. but the meetir@
;ert ,.it.' ngu' subject TO the call OF the Pras;
uouS taking deflnite action.
0t. GARRErr's IDEA,
Mr. ~ ID understood that the nropoe., .,
Rai,Sarrett to relinquish controI ns
aosiumore aud Ohio had nar,I,, srOi Oh tne
~ amalgamatinn - III NleW